Cloud mining bitcoin platform, BitFuFu has entered into a two-year agreement with Bitmain, to acquire up to 80,000 S-series mining rigs.<\/p>\n
The deal includes Bitmain\u2019s latest S21 XP and S21 Pro models, which marks a major expansion for BitFuFu\u2019s operations.<\/p>\n
According to the original press release<\/a>, the agreement allows BitFuFu to purchase miners in stages, offering flexibility to adjust to market conditions and operational needs.<\/p>\n The newly acquired hardware will support the Nasdaq-listed company\u2019s self-mining efforts and expand its service portfolio, which includes miner resale, cloud mining, and hosting services. In terms of the deal\u2019s financial structure.<\/p>\n BitFuFu can pay part of the purchase price in its own shares and defer a portion of cash payments interest-free until after the equipment is delivered. This arrangement is designed to maintain liquidity while advancing the company\u2019s growth objectives.<\/p>\n Commenting on the development, Leo Lu, Chairman and CEO of BitFuFu, said that this strategic partnership with Bitmain will ensure a consistent supply of the latest miners to help the company grow its global mining operations and aim for an additional 1 GW of capacity by the close of 2026. The exec added,<\/p>\n \u201cThe new miners will be utilized to bolster both our self-mining operations and cloud-mining services, delivering highly cost-effective and energy-efficient solutions. With the flexibility to procure equipment in batches over the next two years based on operational demands, this agreement further reinforces our position as a leader in the industry.\u201d<\/p>\n Shortly after the announcement, its stock saw a double-digit gain to $5.60 on January 2nd before undergoing a minor correction to $5.42.<\/p>\n The latest development comes months after BitFuFu acquired<\/a> a rival 80-megawatt (MW) Bitcoin mining facility in Ethiopia.<\/p>\n The post Nasdaq-Listed BitFuFu Secures 2-Year Deal with Bitmain for 80,000 Bitcoin Mining Rigs<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Cloud mining bitcoin platform, BitFuFu has entered into a two-year agreement with Bitmain, to acquire up to 80,000 S-series mining rigs. The deal includes Bitmain\u2019s latest S21 XP and S21 Pro models, which marks a major expansion for BitFuFu\u2019s operations. According to the original press release, the agreement allows BitFuFu to purchase miners in stages, […]<\/p>\n","protected":false},"author":0,"featured_media":33406,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-33405","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/33405"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=33405"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/33405\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/33406"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=33405"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=33405"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=33405"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}